Via hamptons.guestofaguest.com: "Say it 'ain't so!" we said, after yesterday's news that Pink Elephant, Southampton had filed for Chapter 11 bankruptcy. Does any of this affect you? Probably not. The Day & Night party is still ON this weekend and all summer long (the Chapter 11 debacle at Merkato 55 in the city was not enough to stop the Koch brother's party in NYC either). Our best $2k photos aren't going anywhere. Phew. MORE>>>
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